Europe's orphan, the future of the euro and the politics of debt, Martin Sandbu
Type
Label
Europe's orphan, the future of the euro and the politics of debt, Martin Sandbu
Language
eng
Bibliography note
Includes bibliographical references (pages 273-302) and index
Illustrations
illustrations
Index
index present
Literary Form
non fiction
Main title
Europe's orphan
Nature of contents
bibliography
Oclc number
921183925
Responsibility statement
Martin Sandbu
Sub title
the future of the euro and the politics of debt
Summary
Originally conceived as part of a unifying vision for Europe, the euro is now viewed as a millstone around the neck of a continent crippled by vast debts, sluggish economies, and growing populist dissent. In Europe's Orphan, leading economic commentator Martin Sandbu presents a compelling defense of the euro. He argues that rather than blaming the euro for the political and economic failures in Europe since the global financial crisis, the responsibility lies firmly on the authorities of the eurozone and its member countries. The eurozone's self-inflicted financial calamities and economic decline resulted from a toxic cocktail of unforced policy errors by bankers, politicians, and bureaucrats; the unhealthy coziness between finance and governments; and, above all, an extreme unwillingness to restructure debt. Sandbu traces the origins of monetary union back to the desire for greater European unity after the Second World War. But the euro's creation coincided with a credit bubble that governments chose not to rein in. Once the crisis hit, a battle of both ideas and interests led to the failure to aggressively restructure sovereign and bank debt. Ideologically informed choices set in motion dynamics that encouraged more economic mistakes and heightened political tensions within the eurozone. Sandbu concludes that the prevailing view that monetary union can only work with fiscal and political union is wrong and dangerous--and risks sending the continent into further political paralysis and economic stagnation. Contending that the euro has been wrongfully scapegoated for the eurozone's troubles, Europe's Orphan charts what actually must be done for the continent to achieve an economic and political recovery
Table Of Contents
1. A gaint historic mistake? -- 2. Before the fall -- 3. Freece and the idolatry of debt -- 4. Ireland: the private is political -- 5. Europe digs deeper -- 6. Righting the course: from bail-out to bail-in -- 7. If Europe dared to write down debt -- 8. Eurpoe's real economic challenges -- 9. The politics that the euro needs -- 10. Great Britain or little England -- 11. Remembering what the euro is for
Creator
Subject
- Economic history
- Financial crises -- European Union countries
- Money -- European Union countries
- Zone euro
- Financial crises -- European Union countries
- Debt relief -- European Union countries
- Debt relief -- European Union countries
- EU countries
- Monnaie -- Pays de l'Union européenne
- Money -- European Union countries
- UE/CE Etats membres
- Währungspolitik
- Euro (Monnaie)
- European Union countries -- Economic conditions -- 21st century
- Öffentliche Schulden
- Pays de l'Union européenne -- Politique économique
- UE/CE Euro
- Europe -- European Union countries
- Eurozone
- European Union countries -- Economic policy
- Euro
- Finanskrisen 2008-2009
- Pays de l'Union européenne -- Conditions économiques -- 21e siècle
- Eurozone
- Monetary policy -- European Union countries
- 83.44 international monetary economics
- Money -- European Economic Community countries
- Monetary policy -- European Union countries
- Skuldavskrivning
- Crise financière
- Politique monétaire -- Pays de l'Union européenne
- Politique économique
- Penningpolitik
- Reprise économique
- European Union countries -- Economic conditions -- 21st century
- Dette publique
- Money
Content
Author
Mapped to
Incoming Resources
- Has instance2
Outgoing Resources
- Creator1
- Subject37
- Economic history
- Financial crises -- European Union countries
- Money -- European Union countries
- Zone euro
- Financial crises -- European Union countries
- Debt relief -- European Union countries
- Debt relief -- European Union countries
- EU countries
- Monnaie -- Pays de l'Union européenne
- Money -- European Union countries
- UE/CE Etats membres
- Währungspolitik
- Euro (Monnaie)
- European Union countries -- Economic conditions -- 21st century
- Öffentliche Schulden
- Pays de l'Union européenne -- Politique économique
- UE/CE Euro
- Europe -- European Union countries
- Eurozone
- European Union countries -- Economic policy
- Euro
- Finanskrisen 2008-2009
- Pays de l'Union européenne -- Conditions économiques -- 21e siècle
- Eurozone
- Monetary policy -- European Union countries
- 83.44 international monetary economics
- Money -- European Economic Community countries
- Monetary policy -- European Union countries
- Skuldavskrivning
- Crise financière
- Politique monétaire -- Pays de l'Union européenne
- Politique économique
- Penningpolitik
- Reprise économique
- European Union countries -- Economic conditions -- 21st century
- Dette publique
- Money
- Content1
- Author1
- Mapped to1